Actuarial Rate Adequacy Manager

Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.

We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.

We are looking for an experienced actuary to join our Personal Insurance Pricing department’s leadership team at Definity as the Actuarial Rate Adequacy Manager. The successful candidate will be responsible for the rate adequacy review of each portfolio in the Personal Insurance department across the country, including the deep dive review of key underlying assumptions on both Auto and Property, from both Broker and direct channels. You shall collaborate closely with cross-functional partners and the Senior Leadership Team with the ultimate objective to achieve target profitability and competitive positioning in the market.

What can you expect from this role?

• In charge of the outcome of our rate adequacy analysis, ensuring that they are actuarially sound, relevant to the forthcoming market conditions, and scalable.
• Collaborate with cross-functional teams and leadership stakeholders to gain alignment in key assumptions and to understand the business stories underlying each portfolio.
• Present rate adequacy evaluations to the PI management team, highlighting rationales behind key drivers of changes and socializing findings from applicable deep dive analysis.
• Plan, coach, develop, and lead the team of 4-6 actuarial analysts whose primary work focus is on the design, development, analysis, and continuous enhancement of our indications assumptions and templates.
• As part of the Personal Insurance Pricing Management Team, help deliver increased business value and support profitable growth from the implementation of actions rooted in sound actuarial analysis and insights.

What do you bring to the role?

• University Degree in Actuarial Science, or a relevant discipline. Associateship/Fellowship in the Casualty Actuarial Society or equivalent professional designation.
• At least 5 years of full-time experience in actuarial pricing with a preference for individuals who have experience managing or coaching a small team of analysts.
• Knowledge of insurance regulations and compliance requirements related to pricing and underwriting.
• Strong analytical and problem-solving skills, with a focus on data-driven decision making.
• Excellent project management skills, including communication, organization, and execution ability to promote and supervise a team effort towards successful project delivery.
• Strong relationship-building and influencing skills with the ability to collaborate effectively with cross-functional teams in achieving organizational goals.

Salary Range: $91,000 - $187,200

Interested in this role, but don’t meet every requirement? We encourage you to apply! We know from experience that a candidate doesn’t need 100% of the qualifications listed to bring incredible value to our team. We’re actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren’t just “nice to have” — they’re essential to our success.

What’s in it for you?

• Hybrid work schedule for most roles
• Company share ownership program
• Pension and savings programs, with company-matched RRSP contributions
• Paid volunteer days and company matching on charitable donations
• Educational resources, tuition assistance, and paid time off to study for exams
• Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
• Wellness and recognition programs
• Discounts on products and services

Actual salary for the role may vary depending on the work location of the successful candidate and other factors including but not limited to skills, education, experience, working conditions, and the local labor market. In addition to base pay, eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.

Go ahead and expect a lot — you deserve it. It’s better here — but don’t take our word for it. Definity was named by Great Place to Work as one of the Best Workplaces in Canada for women, for youth, and for inclusion.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting [email protected].

Background checks

This role requires successful clearance of background checks (including criminal checks and leadership references).